From the course: Strategic Partnerships: Ecosystems and Platforms
What is ecosystem strategy?
From the course: Strategic Partnerships: Ecosystems and Platforms
What is ecosystem strategy?
- A business ecosystem is a set of companies that complement each other and that have relationships with each other. Strategic partnerships, for example, would be the kinds of relationships they would have. These companies complement each other perhaps in different ways. Sometimes they supply products to each other. Sometimes, together, their products have to work well in order to provide a service to consumers. Sometimes these companies are different ways of reaching a market. So all of these are ecosystems. A good example of an ecosystem we find in the smartphone business. You might think about the smartphone industry overall as an ecosystem with lots of players, that's correct. At the same time, it's more important to think about the competing ecosystems within this world. So we have the Apple iPhone ecosystem, and we have the Google Android ecosystem, and each of them has members, has organization, and competes against each other for value, and that's what strategy is all about.
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